Spot rubber finished unchanged on Wednesday. The market continued to be at a standstill in the absence of follow up buying, though it was reported that the procurement process had begun. It is expected to gather momentum within a couple of days.
Meanwhile, rubber imports in February nearly doubled to 18,141 tonnes from a year ago as a sharp drop in international prices prompted tyre makers to increase overseas purchases. Sheet rubber closed steady at ₹146.50 a kg, according to traders. The grade was quoted unchanged at ₹147 and ₹144 respectively, by the Rubber Board and dealers. March futures weakened to ₹143.50 (₹143.67), April to ₹149.01 (₹149.46), May to ₹152.01 (₹152.80), June to ₹154.49 (₹154.93) and July to ₹156.00 (₹156.09) on the National Multi Commodity Exchange. RSS 3 (spot) firmed up to ₹136.69 (₹136.07) at Bangkok. March futures closed at ¥245.0 (₹146.04) on the Tokyo Commodity Exchange.
Spot rubber rates (₹/kg) were: RSS-4: 146.50 (146.50); RSS-5: 144 (144); Ungraded: 141.50 (141.50); ISNR 20: 142.50 (142.50); and Latex 60%: 112.50 (112.50).
The Hindu
